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Payment date
For special dividends, the ex-dividend date is set according to the size of the dividend in relation to the price of the security, and dividends or distributions of less than 25% are subject to the 'regular' rules for ex-dividend dates.
However, dividends or distributions of more than 25% are subject to 'special' rules for ex-dividend dates. The major difference here is that for these larger distributions or dividends the ex-dividend date is set as the day after payment.[3]
For these larger 'special dividends', the ex-dividend date is one stock trading day after the dividend payment date (which occurs after the dividend record date). The stock will trade on an ex-distribution basis (adjusted for the amount of the dividend paid) on the trading day after the dividend payment date.
A special dividend is a payment made by a company to its shareholders that the company declares to be separate from the typical recurring dividend cycle, if any, for the company. Usually when a company raises its normal dividend, the investor expectation is that this marks a sustained increase. In the case of a special dividend, however, the company is signalling that this is a one-off payment. Therefore, special dividends do not markedly affect valuation or yield calculations. Typically, special dividends are distributed if a company has exceptionally strong earnings that it wishes to distribute to shareholders or if it is making changes to its financial structure, such as debt ratio.
THE COMPANY DECLARED IT AS A Q DIVIDEND.
ST
All this mess points to FINRA and the DTCC not following there own rules.
LYN,Yes there is. Subpoena the DTCC records through the Freedom Of Information Act and you will find the truth of a short. They (The DTCC) where responsible to distribute 1.3 million dollars to shares that held a Due Bill and apparently there was 3+ million dollars more Due to shares from the short positions Due Bills as of June 30, 2015. 272,727,272+ approximately.. LOL
Even JS said that the people at the DTCC are very smart.. That is why you saw a TEXT BOOK suspension happen.... The "COVER UP OF CULPABLE NEGLIGENCE" or other wise known as aiding and abetting fraudulent activities with the Wall Street Criminals Circles (Their Friends or Themselves).......
There is a documentary that was written back in 2006 or 2007 that (From Ex Employees of the DTCC) states why there will be NO INVESTIGATION called for by any Investigative Department of the Criminal Justice Departments Of The United States Of America. .... Because if there was, YOU WOULD THEN FIND THE CULPRITS THEMSELVES.............. HUMMMMMM
Now, this could be a scam, but that would still put FINRA and the DTCC just as liable as the company after following threw with the distribution of a dividend that was fraudulent but still distributed and hiding a massive short position of said securities (CRGP)....
All I can say is cover boys cover. Pay your DUES (Bills) lick your wounds and think twice in the future when a penny stock company declares a dividend and you short the F3ck out of it too.
All IMO and View from watching the criminals since 2001
ST and a proud shareholder of CRGP
Well I would have to guess CRGP bought even more shares out of the market than where calculated in the 0.1925 share valuation number if the value is now .27 a share.. Gona get good IMO.
That was FAST, go CRGP.. LOL
phx, I think your 600m is way to conservative, We know that COR said Calissio bout back the 300+m from the lawsuit and Calissio PR'ed over 150m from buy back so it is around 170m up till the last two trading days. Remember the numbers in their PR still left them somewhere around 800 to 1m to continue the buying back. If it's a scam then it's a scam but up to the dividend pay out the company did every thing they said. My earlier post puts it at .196 a share. Only as a guess of course.
ST
Woww Lowhndcpr, no faith? Look at all of today’s posts and tell me. Double or triple time..
Text ya latter
ST
WHAT??? Rely??? Not sure how you would figure out the value of a companies shares are after they buy 80 to 90% or higher of their float back but I'm going to take a guess. Dividend was based on 118,118 share at 1.3 million. Company reports apx 20 something million cash and assets. Dividend would roughly 1/17th of company value. That would make shares around 17.5x.011= 0.1925 each. So I do understand why there is over time. Stranger things have happened. GLTA Longs
ST
Paint it the way you want, the fact is that CRGP had X amount of shares O/S on June 30 and they transferred X amount of $$$$$$$'s to the DTCC for allocation to the holders shares of that date. Had Calissio not paid there would have been NO DIVIDEND. FACT So where did the company go wrong? The DTCC dropped the ball.
ST
Why would they not allow another dividend? When the dust settles and the new O/S comes out from the company it will be interesting to see FINRA say you can't give a dividend..
IMO
ST
Was it not the DTCC that allocated the dividend to the shares that COR sold that did not hold the DB? The DTCC screwed that one up. CRGP paid out on only what shares where out as of June 30. (respectfully the $1.3million) other wise no one would had received any dividend. The finger points only to the DTCC's lack of understand the 11140 rule. IMO
ST
Well one thing is for sure. When calissio announced the buy back and dividend, CRGP was well over the 25% threshold rule. What is the explanation for the DTCC to issue/pay a dividend on shares that did not hold the Due Bill? You would think their (DTCC) securities attorney would have known.
They created this mess.
ST
JS, you would think that the company would/should know but out of the 10 or so people from brokers to traders that I personally spoke with had never seen the 11140 rule ever.The only one I spoke with that had any idea what I was talking about was Jessica from FINRA. Not to make any excuse for the company but it was a well hidden rule which apparently stumped even the DTCC on the distribution of the dividend.That is pretty bad when even the SRO Regulators can't even get it right. What a mess they caused to cover their little short MM friends.
ST
The glitch in this whole thing is that the DTCC failed at paying the dividend only to the due bill recipients..... What a cluster fk..
ST
DTC Dividends Service User Guide
Page
27
of
46
Due Bill Fail Tracking System
About the Produc
t
The
Due Bill Fail Tracking
system relieves you of the time
-
consuming process of issuing and
redeeming due bills by facilitating the settlement of due bills on failed deliver orders (DOs).
A failed DO is one which was originally scheduled to settle on or
before the record date, but instead
settled after the record date. Fails sometimes result in buyers not receiving a dividend or interest
payment to which they are entitled. Previously such deliveries were made with a due bill attached,
usually in the form
of a post
-
dated check or IOU. A due bill is an agreement that the seller will pay
the dividend or interest to the bearer (the buyer) upon presentation.
How the Product Works
Due Bill Fail Tracking
:
•
Monitors all DO activity, comparing the trade settlement d
ate of the DO with the actual
settlement date
•
For failed DOs, reviews DTC's Dividend Announcement database
•
Automatically generates cash and stock dividend adjustments for any failed DO requiring a
due bill except for REPO, stock loan, Continuous Net Sett
lement (CNS), Free and
Interdepository deliveries.
On the payable date, or on the day following the settlement of the trade at DTC (whichever is later),
the seller receives a debit for the income due and the buyer receives a credit.
Important Notes
The fo
llowing notes apply to DTC's
Due Bill Fail Tracking
process:
•
If you are a delivering participant, you can elect to remove a delivery from
Due Bill Fail
Tracking
by entering an
N
in the
Due Bill
field on the DO.
•
Due Bill Fail Tracking
does not monitor stoc
k splits, rights offerings, or optional dividend
payments.
•
Receiving participants have the ability to delete a pending adjustment, or change the post
date of a pending adjustment, until 1:00 p.m. eastern time on the post date.
Monitoring Period
The monit
oring period for failed transactions is:
•
18 months from the payable date for corporate and municipal debt issues
•
30 days from the payable date for equity issues.
Fail monitoring begins on:
•
The day following the record date for all announcements that are
not subject to interim
accounting
•
The day following the end of the interim period for announcements with interim accounting.
May never know but one thing is for sure, all the trading I seen on L2 today could not have come from this board. Looking good on chart lots of room to go up to 200dma quickly.
And the due bill attached would get washed by the company. one less due bill they would have to pay the dividend on. the prior owner is not entitled to that dividend if they sold before the 8/18 at 4;00pm. Those boys don't have a leg to stand on.
GLTA
ST.
Jugas, please read my last post
This suite may not hold water. On June 16 when the dividend was announced, the proceeds to pay that dividend was based on the shares that where allotted the bill on June 30th.
June 16th stock price
O at .0252
H At .0297
L at .018
C at .0207
June 30th closing price
C at .009
.009+ 25%=0.01125
.009+ 24%=0.01116
.009+ 23%=0.01107
.009+ 22%=0.01098
.01125 or more would enact the Rule 11140 the company did not break any laws up to this point.....No malicious/intent to defraud
Now, it does gets tricky from there to Aug 18th. As far as the share buyback, it was announced 15 days Pryor to the div, announcement. so.
O well we shall see.
ST Good luck to all
ST
msreddy7777, that is what the shorters where betting on. A large part of the 2.6 million dollars of dividends coming back to them to off set the dividend that they to had to pay on a stock that they shorted at .002. LOL.
9:52 am ET August 13, 2015 (PR Newswire)
Now that is funny. LMAO.. But true at the same time..
ST
James F, WOW not sure how much closer any one could get to the truth. The sad part is we will never know. It is a crying shame when these people have the ability to make a phone call and get away with millions while killing a legit hard working company... I wrote this back in the Dot-Bong last year.
That is the truth.....
ST
The 3% is a tremendous deal to the company so was the cash divy. They both where to give a solid snap shot in time to determine how many shorts there where. The way it worked out actually was better because it gave them two snap shots and a much clear picture as to how bad the short had became in such little time. I am still waiting to see the PR about the completion of the buy back along with the updated O/S. This could get very interesting if by the end of program the new public report of the O/S is significantly lower than the 242 million published in the August 13th PR and a new dividend was to be announced at the same time.. IMO
Till then, Have a great day all
ST
MARGIN CALLS on dividends is causes MAJOR animosity..... LOL
The FACT is when the Divined was distributed by the D.T.C.C. to all the brokers the D.T.C.C. can only pay shares of the O/S that where marked as issued by the company...... HaHa shorts MARGIN CALL.. Trippe/Quadruple short just to cover Dividend....
Looking for the next dividend PR and ya better not be short...
ST and waiting for the next PR... LOL
P.S> by face value of PR'S the issued/outstanding would be 207 million and the surge continues
Open at .0048 and low of .0037
ST
Stervc, the need to raise the A/S has also been used to maintain ownership of company's to. If the short on this company is doubled of quadrupled the O/S, the ownership becomes diluted and could be used for a take over. This should be taken into consideration as a possible reason too. There is/was a definite short in this company and it could be larger than we think. Hopefully the company's dividend/with the FINRA/D.T.C.C. approval nipped it in the azz.
I think we will start to get more clarity of company happenings in the very very near future as to BOD corporate decisions. None the less we are in for exiting weeks ahead going into Sep. 17thish
Have a great day.
ST
You can call me a fool every time I get a dividend that size posted to my account,
ST was a fool to believe... LOL
from drug cartels to people that don't even exist. Holly sh!t. I got my dividend yesterday are you going to tell me that does not exist too? Come on have some faith.
ST
Defiantly a blessing to me and my family that was needed badly. Could not have happened at a better time. I hope the stars continue to line up for Calissio Resources Group and their shareholders.
ST
Tex, the company did not have a choice on the Ex-date. That was determined by the Nasdaq Rule 11140(b)(2) and if you think about it, shorts got hit even harder because of it.... LOL it's not like the stock was trading 3 to 4 times the dividend. They would have to sell short again 3 to 1 to cover them the other side trying to buy back 4 to 5 time cheaper. LOL Like I said before The Perfect Storm.... We win
TEXAS, they are still trying to clean their shorts this weekend after the margin call from the D.T.C.C.. They would be better off throwing them in the garbage and go buy more. Oh ya that’s right CRGP broke them.. lol
Dolphin, you are correct as to the shorts and when the D.T.C.C. distributed the dividend to the brokers the shorts where exposed. Now we will never be told or know what that true number was but the D trust Co. and brokers dam sure know. Margin call.. Ouch that had to hurt. LOL
I believe a flood of news is fixing to hit the news wires in the next few week from the company and rightfully so.
The best to all who invested and not just flipped. The music could stop at any time. The question is, do you have your seat and ticket to ride?
ST
tapia, take into consideration that the shares they took out of the market saved them from paying a dividend on at a ratio of apx. 3 to 1 at the .011 divy. The shorter's worst nightmare.. LOL
corrected my numbers
95,750,000X.011= $1,053,250 to pay divy but instead
$1,053,250x0.0043= $452,897 a difference of $600,353 to buy up more.LOL
and that does not even take into account the 35m just the other day at.0022 average
Iowman, at a $1.00, It could be a market cap of 157 million as of the close yesterday. I don't know about any one else but I am going to take the resent PR's from the company at face value. We all where optimistic about the dividend being real but surprise surprise. As the company has stated, it continues it's buy back program and as of the latest PR it appears on track to continue acquiring the shares with the BOD's approval to spend up to $1.5 million. This week will be huge for the company on the buy back.(garbing shares while volume is high a PPS that's low.) I am looking for a PR by weeks end stating that the buy back is completed and the issued and outstanding is ??? That could make the market cap around 50 to 100m at a dollar.. LOL
The dividend that hit my account yesterday gives a little more credibility/legitimacy to the company. All IMO Only.
Have a great day.
ST
you are correct some people will not see them but that has nothing to due with owning the shares in June. It is because the due bill is not attached.
I've been going for over a week now on this and I'm tired... lol have a great nite and good luck to all that deserve their div and still don't have it. Don't give up.
ST